Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data.

BUSINESS SOLUTIONS
Income Statement
For Three Months Ended March 31, 2020
Computer services revenue				$	24,707
Net sales					18,593
Total revenue					43,300
Cost of goods sold	$	14,552
Depreciation expenseOffice equipment		330
Depreciation expenseComputer equipment		1,230
Wages expense		2,950
Insurance expense		555
Rent expense		1,475
Computer supplies expense		1,265
Advertising expense		580
Mileage expense		300
Repairs expenseComputer		870
Total expenses					24,107
Net income				$	19,193

BUSINESS SOLUTIONS
Comparative Balance Sheets
December 31, 2019, and March 31, 2020
	Mar. 31, 2020						Dec. 31, 2019
Assets
Cash		$	77,287					$	51,702
Accounts receivable			24,367						4,868
Inventory			694						0
Computer supplies			2,085						530
Prepaid insurance			1,060						1,625
Prepaid rent			805						805
Total current assets			106,298						59,530
Office equipment			8,000						8,000
Accumulated depreciationOffice equipment			(660	)					(330	)
Computer equipment			19,000						19,000
Accumulated depreciationComputer equipment			(2,460	)					(1,230	)
Total assets		$	130,178					$	84,970
Liabilities and Equity
Accounts payable		$	0					$	1,110
Wages payable			925						600
Unearned computer service revenue			0						1,800
Total current liabilities			925						3,510
Equity
Common stock			107,000						74,000
Retained earnings			22,253						7,460
Total liabilities and equity		$	130,178					$	84,970

Required: Prepare a statement of cash flows for Business Solutions using the indirect method for the three months ended March 31, 2020. Owner Santana Rey contributed $33,000 to the business in exchange for additional stock in the first quarter of 2020 and has received $4,400 in cash dividends. (Amounts to be deducted should be indicated with a minus sign.)

BUSINESS SOLUTIONS Statement of Cash Flows (Indirect) For Quarter Ended March 31, 2020 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Cash flows from investing activities Net cash used in investing activities Cash flows from financing activities Cash balance at December 31, 2019 Cash balance at March 31, 2020